"Apple Inc. ( NASDAQ: AAPL) just posted excellent quarterly results. The stock rose 2%. It still lags most of the mega-tech stocks, including Nvidia, Microsoft, and Amazon. One reason may be its major failure to grow in China, the world's largest smartphone market. Apple's revenue rose 8% in the quarter to $102.5 billion. It is the first time its quarterly income has risen above $100 billion. Per-share earnings rose 13% to $1.85."
"Additional positive news is that Services revenue rose from $25.0 billion to $28.8 billion. The Services business is considered a key to Apple's future because of its large margins. However, Apple's revenue in China, which it calls Greater China, fell to $14.5 billion from $15.0 billion. It was the only region where revenue dropped. China has 975 million smartphone users, while the United States has 310 million."
Apple reported quarterly revenue of $102.5 billion, up 8%, marking the first quarter above $100 billion. Earnings per share rose 13% to $1.85. Services revenue increased from $25.0 billion to $28.8 billion, contributing higher-margin business. Greater China revenue fell to $14.5 billion from $15.0 billion, and it was the only region with declining sales. China contains 975 million smartphone users compared with 310 million in the United States. Local competitors such as Huawei, Vivo, and Xiaomi hold double-digit market share. Some experts attribute China underperformance to the lack of a strong on-device AI service in iPhone models.
Read at 24/7 Wall St.
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